Nikkei Average Hits Record Intraday High above 42,000

Jiji Press

10:40 JST, July 11, 2024

Tokyo (Jiji Press)—Japan’s key Nikkei 225 stock average hit a fresh record intraday high on Thursday morning, surging nearly 600 points to top 42,000 for the first time ever.

At 9:07 a.m., the Nikkei average rose to 42,426.77, up 594.78 points, or 1..42 pct, from Wednesday.

The broader TOPIX index also hit a fresh record intraday high, at 2,946.60 at 9:07 a.m., up 37.40 points, or 1.26 pct.

A wide range of stocks drew purchases in the Tokyo market, thanks to overnight rises in major U.S. stock indexes that came after remarks by Federal Reserve Chairman Jerome Powell in his congressional testimony were taken to be in line with market expectations of an early interest rate cut.